Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 988 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.Rohan’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹260 (paper cups)
   How much is the loss (in ₹)?
2. 2.True or false: “money from sales” is an expense (money out). (a) True (b) False
3. 3.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
4. 4.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) a card order paid
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.Kavya’s record for the day:
   Income: ₹400 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹150 (sugar)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: printing posters? (a) income (b) expense
9. 9.Ishaan’s stall took in ₹270 on Friday, ₹170 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
10. 10.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
11. 11.Farhan’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
12. 12.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.Dev’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) tutoring fees received
18. 18.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
19. 19.Zoya’s stall took in ₹320 on Friday, ₹260 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
21. 21.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
22. 22.Kavya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) tutoring fees received
24. 24.Meera’s stall took in ₹200 on Friday, ₹70 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: paying the stall fee? (a) expense (b) income
26. 26.Dev’s income was ₹310 and the profit was ₹20. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
28. 28.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) printing posters (d) paying the stall fee
30. 30.Nisha’s income was ₹300 and the profit was ₹30. One expense was ₹250 (lemons). How much was the other expense, for paper cups (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
32. 32.Dev’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹280 (paper cups)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.Tara’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
35. 35.Riya’s income was ₹190 and the profit was ₹80. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?
36. 36.Ishaan’s income was ₹140 and the profit was ₹60. One expense was ₹50 (transport). How much was the other expense, for card paper (in ₹)?
37. 37.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) buying paper cups (d) paying the stall fee
38. 38.Riya’s income was ₹330 and the profit was ₹190. One expense was ₹110 (lemons). How much was the other expense, for card paper (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.Riya’s stall took in ₹90 on Friday, ₹130 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?

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